“Those who say we shouldn’t borrow must have an alternative answer to where we will get the money," he said."Those who don’t support borrowing, are they ready to support increased taxes?”Babatunde Fashola, the Minister of Power, Works and Housing, has answered those criticising the Nigerian Government for borrowing money.
Addressing journalists in Ilorin, the Kwara State capital, he asked such people to provide an alternative to sourcing funds. “Those who say we shouldn’t borrow must have an alternative answer to where we will get the money," he said. "Those who don’t support borrowing, are they ready to support increased taxes?”He went on to defend the decision of the government to borrow monies to fund its various projects in the country.“It is not from President Muhammadu Buhari’s salary or the National Assembly’s salary; we are talking about quantifiable, substantial billions of naira that need to be spent to pay.
“That is how you move money around the economy because once you pay the contractors, they order sand, cement, iron rods. They don’t keep all those things. Where the money stops, supply stops.” Fashola assurance the public that the government would continue to improve the economic wellbeing of the people through infrastructural development in the country.
There has not be any prudency on the already borrowed funds may be when the 12th generation loan is collected then you people will relax instead of the govt to address the bogus and jumpo cheque earned by political office holder this will provide additional cash for capital proje
Borrowing money for three different critical developmental Ministries under the supervision of one man is doing father Christmas to the lender. How can you gurranttee effective and effecient supervision of such borrowed money?.
Let all Ministers, Governors, legislators, political appointees present their tax clearance first if we talking tax, or you might as well ask the ordinary Nigerian if they are ready to die because they are Nigerian, that's the same tax question asked just put differently
Many countries you believed that their systems are working today borrowed a lot ,,unfortunately Nigeria youths will politicised all issue that concern the national development ..
There is no way out the Nigerian situation. President Jonathan had sentenced future generations of Nigerians to decades of debt repayment ever before this APC administration. Worst and most distressing is the fact that the loans were looted rather than invested wisely.
This is not the Fashion we used to know in Lagos state. Something has actually gone wrong somewhere.
You are finally mad patapata Mr fashola,you can not think outside d same old method of adding more debt & adding more suffering on d people
How about reducing cost of governance in the country? The jumbo pay&allowances of politicians should be reduced.
We didn't send you anything... just get lost
Yes.
We don't need tax increase, as AsiwajuTinubu mentioned. We should open up other tax revenue area like: Luxury, Gift, Noise, Bank Deposit (Above N1m), Religion etc. Everyone must be accountable for their actions/benefits. Island & Abuja alone, has taxable entities wasting away.
Is increasing taxes the solution? Non of them is talking about economic diversification. Complete government control of solid minerals instead of bandits and illegal miners. Blocking of all economy leakages. Reckless spending by the executives & houses of assembly members.
Failed people are leading us to utter failure, yet they celebrate they have won something big.
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Was Increased Taxes among you people electioneering campaigns for Nigerians?